Between 2015 and 2019, Saudi Aramco has budgeted ~USD 150 billion in capital and operational expenditure: 40 billion for manufactured inputs and 110 billion for services. Currently, the company sources roughly 25% of its manufactured inputs from local producers. In future, it aims to increase the localized share of its business to 70%. To spur investment in local production, Saudi Aramco is working with the government to provide numerous incentives to investors, including land in industrial zones, long-term procurement agreements, exclusivity in bidding, and a price advantage of up to 10% to local producers. Opportunity: Saudi Aramco plans to spend ~USD 40 billion on manufactured inputs over the next five years, roughly 25% of which it currently sources through imports. Specifically, Aramco see opportunities in manufacturing the following products: 1) Pipe & structural steel: ~USD 12 bn and 35% localization, 2) Columns, vessels, exchangers, & valves: ~USD 6 bn and 25%, 3) Compressors, pumps, & turbines: ~USD 4 bn and 15%, 4) Chemicals, drilling fluids, & inhibitors: ~USD 5 bn and 45%, 5) Instrumentation & electrical: ~USD 5 bn and 30%, 6) Drilling & producing equipment: ~USD 6 bn and 20%, 7) Health, safety, security & fire ~USD 3 bn and 20%, 8) Construction & general supplies ~USD 2 bn and 25%.

Between 2015 and 2019, Saudi Aramco has budgeted ~USD 150 billion in capital and operational expenditure: 40 billion for manufactured inputs and 110 billion for services. Currently, the company sources roughly 25% of its manufactured inputs from local producers. In future, it aims to increase the localized share of its business to 70%. To spur investment in local production, Saudi Aramco is working with the government to provide numerous incentives to investors, including land in industrial zones, long-term procurement agreements, exclusivity in bidding, and a price advantage of up to 10% to local producers. Opportunity: Saudi Aramco plans to spend ~USD 110 billion on three types of services over the next five years. First, it will demand roughly USD 45 billion in exploration and drilling services, such as rigs construction, well services, seismic services, and cementing services. Next, it will demand a further USD 45 billion in construction projects, such as onshore projects, design and engineering, facilities construction and pipeline projects. Finally, it will demand ~USD 20 billion in operation, maintenance, and general services, such as transportation, industrial maintenance, utilities, and IT services. Because of the company’s high demand, it sees considerable opportunities to invest in providing these services locally.

While there will always be customers who have decreased attention, are in a hurry, or appear to be frazzled, you want to still aim to deliver strong customer care despite customer scenarios. One way to do this is to treat customers as if they are guests in your home.”
Kirt Manecke, customer service expert ....Read More